Crypto Market Highlights November 24, 2021
IWF Alerts El Salvador, Brazilian CBDC Pilot and many other highlights of the crypto market put together over the past 24 hours.
Crypto Market Highlights: Investment News
- Music rights startup NFT Royal has raised $ 55 million in a Series A funding round led by Andreessen Horowitz’s crypto investment arm. The startup works with musicians and allows users to purchase NFTs, which represent the collective ownership of the works of these artists.
- Nigerian crypto exchange Busha raised $ 4.2 million in a seed round led by Jump Capital, according to Forbes. Busha was launched in 2019 and claims to have over 200,000 registered users.
- Digital lifestyle company OliveX announced that it has committed, with support from Animoca Brands, to raise A $ 8 million ($ 5.8 million) of equity through an equity offering to strategic and institutional investors. The proceeds will be used to fund the development of the company’s first fitness metaverse game, Dustland Runner, as well as other fitness metaverse initiatives.
- Circle Internet Financial, LLC, owner and operator of US startup fundraising platform SeedInvest, has announced that it has become the UK’s leading startup fundraising platform, Crowdcube, with a $ 13.5 million round through the purchase of shares worth approximately $ 10.5 million in the company. The investment, raised via USDC (USDC), “supports Crowdcube’s goals of enabling entrepreneurs to raise capital from their engaged communities and is the company’s largest strategic investment.
Crypto Market Highlights: New Product and Service News
▶ The International Monetary Fund (IMF) has once again warned El Salvador not to use Bitcoin (BTC) as legal tender due to the associated financial and consumer risks. In a final statement on a mission to the Central American country, IMF officials said that while the fund welcomes growth and financial inclusion efforts, El Salvador should address the risks involved. and commercial bitcoin. (Further information: Bitcoin city in El Salvador, BTC bond plans met with mixed reactions)
▶ According to Bloomberg, the e-commerce company MercadoLibre will offer its Brazilian customers trading in cryptocurrencies. However, customers will initially not be able to pay directly with cryptocurrencies for goods purchased on MercadoLibre.
▶ Ontology Blockchain Data and Identity Solution (ONT) works with the mobile business-to-business (B2B) blockchain platform bloXmove, on which bloXmove will integrate Ontology’s decentralized digital identity protocol (DID) into its platform.
▶ Around 10% of the surveyed hedge fund managers and 4% of the private capital managers reported a crypto allocation in 2021, according to the EY Global Alternative Funds Survey 2021 with 264 respondents among managers of alternative funds and institutional investors in North America, Europe and Asia. Although these numbers are relatively low, activity has increased over the past year, the survey added.
Crypto Market Highlights: Regulatory News
As TechCrunch reports, India plans to introduce, review and enforce a bill banning “all private cryptocurrencies” in the country. According to reports, the proposed law would allow “some exemptions” to promote the underlying technology of cryptocurrencies and their uses, and would also create a “benign framework” for the creation of cryptocurrencies, the country’s official digital currency.
Crypto Market Highlights: CBDCs News
The Brazilian Central Bank (BCB) plans to start a trial with a digital currency (CBDC) in 2022, BCB President Roberto Campos Neto said, local media agency Estadao reported. Brazil’s central bank has also discussed a bill regulating digital assets as an investment vehicle.
Crypto Market Highlights: General News
Niantic, the developer of the popular augmented reality (AR) mobile game Pokemon Go, plans to build a “real” supermarket with newly raised $ 300 million funding that will help bring the company’s value to $ 9 billion define. However, Niantic has not specifically stated that its metaverse will implement every aspect of blockchain technology, non-fungible tokens (NFTs) or cryptocurrencies.
Crypto Market Highlights: NFT’s News
Seven out of 140 NFTs Twitter sends to randomly selected users will be sold on the auction house’s Sotheby’s Metaverse platform, with proceeds going to Sostento, an organization that supports healthcare professionals on the forefront of public health. The auction house claims this is the largest NFT charity auction to date.
The smart contract platform Flare has announced a partnership with the esports, gaming and enterprise platform connecting fans with Rival to create the preferred NFT, utility or DAO token platform for Rival’s NFT market to become.
US television personality Martha Stewart will be releasing a second NFT collection in her NFT store MarthaFRESHMint.com. The Thanksgiving themed collection will be a narrative NFT that includes a recording of Martha sharing her first Thanksgiving memories and a humorous retelling of the first Thanksgiving dinner.
Crypto Market Highlights: Career News
Global investment bank Citigroup plans to hire 100 people as part of a new foray into digital assets in its institutional business, reports Bloomberg. As part of this effort, the company has named Puneet Singhvi as the new head of digital assets for its institutional clientele, and he will report to Emily Turner who oversees business development for a broader group.
Crypto Market Highlights: DeFi News
Ardana, Cardano’s (ADA) decentralized finance (DeFi) and stablecoin hub, has announced a partnership with the decentralized application platform (dapp) NEAR to build the bridging infrastructure needed to transfer assets between Cardano and NEAR. The partnership also includes a grant, the amount of which has not been disclosed.
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